PHP buys Ireland care centre

Primary Health Properties has agreed to forward fund a purpose-built primary care centre in the Republic of Ireland.

It will buy the £19.7m asset in Bray, County Wicklow, through Primary Health Properties ICAV, its Irish investment vehicle.

The 51,667 sq ft centre will be 70% let to the Health Service Executive on a 25-year lease.

The deal is PHP’s fifth in the country. Its total portfolio now stands at 310 assets with a gross value of over £1.4bn and a rent roll of £74.7m.

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